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March 7, 2021
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Business Review Western MI
Business Review Western MI
Grand Angels
(2007-07-25)
(wgvu) - The latest investment deal by a Holland-based angel network reflects a
greater focus on partnering to leverage resources.

Grand Angels teamed with Plymouth Venture Partners on a $1.5 million
investment in an Ann Arbor software developer, Janeeva Inc.

By partnering with venture funds and other angel networks, Grand Angels
spreads the risk and the cost of due diligence while leveraging
available capital and expertise, President Jody VanderWel said.

Putting a greater emphasis in the past year on forging such partnerships
reflects the maturation of Grand Angels, founded in January 2004 and
consisting of 33 members.

Grand Angels has worked since its formation to hone its review processes
and build relations with other investment groups in the state. The angel
network is now in a position to partner on capital placements, a common
practice in the investment community.

We're getting our legs under us, VanderWel said. We're comfortable
enough to begin talking to others.

The deal with Janeeva is the eighth for Grand Angels, with investments
collectively totaling $3.5 million, and the third made with a partner,
including a previous partnership with Plymouth Venture Partners.

Grand Angels will work with investment partners on future deals where
it seems like the right approach, VanderWel said.

You like to spread your money over more deals and put less in more
deals to spread your chances of a good return, VanderWel said.
Ultimately we all want to invest in the best deals and the ones that
are most likely to succeed.

As Michigan continues its economic struggles and transition, angel and
venture-capital investors need to look at pooling their resources even
more than they have in the past to seed new businesses, Plymouth Venture
Partners Senior Vice President Mahendra Ramsinghani said.

In crisis, we all come together, and this is no different, Ramsinghani
said. None of us can solve Michigan's problems by ourselves.

LuAnn Auer, executive director of the Ann Arbor-based Michigan Venture
Capital Association, reports an increase in the last few years in
collaboration between venture funds and angel networks.

Angel networks in Michigan are now structuring deals similar to venture
funds, leading to opportunities to co-invest, Auer said.
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